The Gerald Loeb Awards, also referred to as the Gerald Loeb Awards for Distinguished Business and Financial Journalism, is a recognition of excellence in journalism, especially in the fields of business, finance and the economy.[2][3][4][5] The award was established in 1957 by Gerald Loeb, a founding partner of E.F. Hutton & Co.[2] Loeb's intention in creating the award was to encourage reporters to inform and protect private investors as well as the general public in the areas of business, finance and the economy.[5]
Loeb first became known for his book The Battle for Investment Survival, which was popular during the Great Depression and is still considered a classic.[5][6] Born in 1899, Loeb began his investing career in 1921 in the bond department of a brokerage firm in San Francisco, California.[7] He moved to New York in 1921 after joining with E. F. Hutton & Co., and became vice-chairman of the board when the company incorporated in 1962.[7] The Wall Street Crash of 1929 greatly affected Loeb's investing style, and in his 1971 book The Battle for Stock Market Profits, he viewed the market as a battlefield.[7] Loeb offered a contrarian investing viewpoint, in books and columns in Barron's, The Wall Street Journal, and Investor Magazine.[5][7]Forbes magazine called Loeb "the most quoted man on Wall Street."[8] He created the Gerald Loeb Award in order to foster further quality reporting for individual investors.[5]
The awards have been administered by the UCLA Anderson School of Management since 1973, and is sponsored by the G. and R. Loeb Foundation.[3][9][10][11] It is regarded as: "business journalism's highest honor," and its "most prestigious."[12][13][14][15] Beginning with just two winners in 1958 (Werner Renberg and David Steinberg) and expanding to three in the final years before the Anderson School began to administer the award,[16] today there are ten categories in which prizes are awarded: large newspaper, medium newspaper, small newspaper, magazine, commentary, deadline or beat writing, wire services, and television.[2][17] Those honored receive a cash prize of US$2,000, and are presented with the award at a ceremony in July of the year following their piece's publication.[2] The preliminary judging committee includes business, financial and economic journalists, as well as faculty members from the UCLA Anderson School of Management.[18] Once the finalists are selected, a final panel of judges consisting of representatives from major print and broadcast outlets selects a winner from each category.[18] The final panel of judges is chaired by the dean of the UCLA Anderson School of Management.[18] Entries are judged according to their originality, news value, writing quality, thoroughness and balance, and production value.[18]
^ abcdBoik, John (2004). Lessons from the Greatest Stock Traders of All Time. McGraw-Hill Professional. pp. 47–67, "Chapter 3: Gerald M. Loeb". ISBN0-07-143788-6.
^Rose, Matthew (July 2, 2003). "Journal Gets Loeb Award For WorldCom Coverage". The Wall Street Journal. Dow Jones.
^Jenks, Philip; Stephen Eckett (2002). The Global-Investor Book of Investing Rules. Financial Times Prentice Hall. p. 21. ISBN0-13-009401-3.
^Pacelle, Mitchell (2002). Empire: A Tale of Obsession, Betrayal, and the Battle for an American Icon. John Wiley and Sons. Back Cover. ISBN0-471-23865-1.
^Staff Reporter (May 30, 2001). "Journal Reporter Wins Loeb Award For Reports on Energy-Industry Crisis". The Wall Street Journal. Dow Jones & Company, Inc.
Boik, John (2004). Lessons from the Greatest Stock Traders of All Time. McGraw-Hill Professional. pp. 47–67, "Chapter 3: Gerald M. Loeb". ISBN0-07-143788-6.
